Exclusive Report: Iran’s crude/condensate flows & fleet – 2023 review

Exclusive Report: Iran’s crude/condensate flows & fleet – 2023 review

This report explores the dynamics of Iranian crude/condensate exports in 2023, with highlights of STS activity, floating storage and fleet changes.

18 January, 2024
Armen Azizian
Armen Azizian, Senior Oil Risk Analyst
Key report takeaways:
  • Iran’s crude/condensate exports averaged 1.4mbd in 2023, a record-high since sanctions were fully imposed in 2019
  • China imported record volumes of Iranian crude in 2023, amidst tightness in discounted Russian and Venezuelan feedstocks
  • STS zones saw over 1mbd of Iranian crude/condensate in 2023
  • More than 250 tankers were involved in Iranian crude/condensate trade in 2023, VLCCs accounted for 50%
  • Chinese tanker operators dominated Iranian trade in 2023 followed by NITC and low-tax sovereigns, tankers averaged 21 years old
Download report
Armen Azizian
Senior Oil Risk Analyst
Vortexa
Armen Azizian
Armen is a Senior Oil Risk Analyst at Vortexa, analysing global crude markets to extract value for clients. He closely tracks sanctioned crude flows, fleet changes and storage, focusing on Iran, Russia and Venezuela to understand the implications on the wider market.

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Exclusive Report: Iran’s crude/condensate flows & fleet – 2023 review
Exclusive Report: Iran’s crude/condensate flows & fleet – 2023 review
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